Canadian firms, pension managers see opportunities in infrastructure spending
MONTREAL — Canadian construction firms and pension fund managers see opportunities from increased federal infrastructure spending, even though projects approved in the last year have been slow to get off the ground.
“The most important part of those announcements is the confidence (it gives) long-term,” Aecon chief executive Teri McKibbon said Wednesday during a conference call about its third-quarter results.
Finance Minister Bill Morneau said that Ottawa will add $81 billion in spending over 11 years, raising total federal infrastructure spending to $187 billion through 2028. The extra funds will be rolled out in 2017-2018 and top out starting in the 2025 fiscal year.
McKibbon said the mix of projects, including mid-sized green initiatives for the electrification of transit, will help the company most.